BDL Announces Sale of Ramada Encore Swansea Bay

15 June 2004

Glasgow-based BDL Hotel Group today announces the sale of Ramada Encore Swansea Bay hotel to Pearl Hotels Ltd for an undisclosed sum.Ê The announcement comes on the same day as the official opening of the property, which is located in the regenerated SA1 development near Swansea City Centre. The Group’s management arm, BDL Management Ltd has entered into an agreement with Pearl Hotels to operate the property for an initial period of 6 months. Commenting on the sale Ewan Campbell, BDL’s Director of Sales and Marketing, said, “The sale corresponds with our strategy of developing high-specification properties in financially viable markets, with the objective of providing above average return on investment. The sale affords us the opportunity to continue our exponential growth, while the management contract ensures that we will still be directly involved in sales and marketing, operations, and facilities management.”

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Zahir Somani, Managing Director of the Pearl Hotels said, “This acquisition will put us on a firm footing for the first phase of our expansion which will see us acquiring 2 additional branded hotels in the next couple of years.”

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Ramada Encore Swansea Bay, which opened to the public today (Monday June 14th), features 99 ensuite guestrooms, a 2-room meeting centre, licensed bar and restaurant. The property was developed under a joint venture partnership.

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Following the sale, BDL Hotel Group will continue to have a presence in Swansea with the owned and operated Express by Holiday Inn Swansea. Furthermore, BDL will retain and operate its 150 bedroom Ramada Encore hotel in London’s Gypsy Corner, W3 (www.encorelondonwest.co.uk). ——-